Penalty u/s 271B - receipt from profession or receipt from ...

Penalty u/s 271B Deleted: Company Lacks Professional Qualifications Despite Employing Specialized Doctors for Profit Motive.

May 1, 2019

Case Laws Income Tax AT

Penalty u/s 271B - receipt from profession or receipt from business - the company in itself cannot be said to be having any professional qualification or education - It was running only with a motive to earn profit through engagement of specialized doctors and with the help of plant & machinery - carrying on a profession, possession of some professional qualification is must - penalty deleted

View Source

← Previous Next →

Penalty u/s 271B - receipt from profession or receipt from ...

Penalty u/s 271B Deleted: Company Lacks Professional Qualifications Despite Employing Specialized Doctors for Profit Motive.

May 1, 2019

Case Laws Income Tax AT

You may also like:

The ITAT Dehradun held that penalty u/s 271B was not applicable as the assessee failed to upload the Audit Report as required u/s 44AB and did not maintain books of...

Addition of payment made for legal professional charges - CIT(A) observed that payments do not relate to the professional services received by the assessee but other...

Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT

Penalty levied u/s 271B - not getting the books of account audited u/s 44AB - The assessee society is also running an educational institution and was under the bonafide...

Penalty u/s 270A - AO has disallowed the assessee’s claim of deduction u/s 24 and Chapter-VIA deduction as false claims - The appellant contested the penalty on various...

Penalty u/s 271B - imposition of penalty u/s 271B is discretionary not mandatory as word used in section is "may" - no penalty if there is existence of reasonable cause.

Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 - Notification

Companies (Appointment and Qualification of Directors) Amendment Rules, 2018 - Notification

Professional Misconduct - Chartered Accountant (CA) - Significant failures to adhere to Standards on Auditing (SAs), gross negligence, and lack of professional...

Penalty u/s 271B - threshold limit for getting its account audited u/s 44AB - Business activity or professional activity - gross receipts were only ₹ 42 lakhs -...

Lesser penalties for One Person Companies or small companies - lesser penalties (not be more than one-half) for one person companies and small companies - Section 446B...

Penalty u/s 271B for failure to get accounts audited as required u/s 44AB was not levied. The assessee argued that since no accounts were maintained, recourse u/s 271A...

Notification amends Competition Commission of India (Procedure for Engagement of Experts and Professionals) Regulations, 2009. Substitutes "experts or professionals...

Levy of Personal Penalty on the Director of the company and Drivers of the trucks (transporters) - Penalties u/r 26 of CER - Abetment - Clandestine removal - gutka - The...

SSI Exemption - fictitious company / dubious company - Penalty to be imposed on original company and no penalty on dubious company - HC

Quick Updates: